Close Brothers Group (LON:CBG) Trading Up 23.5% - Should You Buy?

Key Points

• Close Brothers Group plc saw its share price increase by 23.5% to GBX 491.40 ($6.53) after trading as high as GBX 533 ($7.08), with trading volume up 411% compared to the average.
• Analysts have a consensus rating of "Moderate Buy" for the stock, with target prices ranging from GBX 327 ($4.35) to GBX 463 ($6.15), indicating mixed sentiments among market experts.
• The company operates through multiple segments, offering a variety of financial services including banking, asset management, and financing for small businesses and individuals in the UK.

Close Brothers Group plc (LON:CBG - Get Free Report) traded up 23.5% during mid-day trading on Tuesday . The company traded as high as GBX 533 ($7.17) and last traded at GBX 491.40 ($6.61). 8,181,824 shares changed hands during mid-day trading, an increase of 411% from the average session volume of 1,600,735 shares. The stock had previously closed at GBX 397.80 ($5.35).

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Peel Hunt reissued a "hold" rating and set a GBX 327 ($4.40) target price on shares of Close Brothers Group in a report on Friday, July 25th. Shore Capital reiterated a "hold" rating and set a GBX 370 ($4.98) price target on shares of Close Brothers Group in a report on Friday, July 25th. Finally, Canaccord Genuity Group restated a "buy" rating and issued a GBX 463 ($6.23) price objective on shares of Close Brothers Group in a report on Monday. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of GBX 468.33 ($6.30).

Close Brothers Group Trading Up 2.6%

The stock has a market cap of £803.03 million, a price-to-earnings ratio of 8.03, a P/E/G ratio of 1.87 and a beta of 0.82. The stock's 50-day moving average price is GBX 390.45 and its 200-day moving average price is GBX 342.23.

About Close Brothers Group

Close Brothers Group plc, a merchant banking company, engages in the provision of financial services to small businesses and individuals in the United Kingdom. It operates through five segments: Commercial, Retail, Property, Asset Management, and Securities. The company offers banking services comprising of debt factoring, invoice discounting, asset-based lending; financing for SMEs, residential housing, transport, industrial equipment, renewable energy, motorcycle, used car, and commercial vehicle financing; insurance, refurbishment, and bridging financing, savings products for individuals and corporates, hire purchase, lease, and loan related services.